Mexico, Norway Can't Help

The top oil officials from Mexico and Norway said they do not have any spare capacity to cool record high global oil prices.

The representatives of two world?s oil players, who aren?t the members of OPEC, met the day after OPEC?s meeting where the decision about raising oil production target by 500,000 barrels per day was taken.

Norway, the world's third largest oil exporter after Saudi Arabia and Russia, now produces at its full capacity about 3 million barrels per day. Mexico is the third largest non-OPEC exporter.

"I'm not sure there is so much extra capacity in OPEC. But if there is any increased capacity, it has to be from OPEC," Norwegian Oil Minister Thorhild Widvey said at a news conference with her Mexican counterpart Fernando Elizondo Barragan.

Barragan said he hoped oil prices would stabilize at or a little below current levels, so the cost of crude does not harm the world economy.

Both countries have state-controlled oil companies, Statoil ASA in Norway and Pemex in Mexico.